Paul De Croos

UTB recruits new head of originations for property development

United Trust Bank (UTB) has named Paul De Croos (pictured above) as head of originations for property development.

Paul — who has over 19 years of experience in corporate banking — joins UTB from the Bank of London and the Middle East (BLME), where he held the position of head of real estate finance since 2016.

Prior to that, he spent 15 years working with RBS in several senior roles and gaining experience in risk management, business development, complex debt structuring and originations. 

From 2010 to 2016, he was director of real estate finance, managing a senior debt portfolio in excess of £2.2bn.

His new role takes over from Adam Bovingdon, who was recently appointed head of property development following Noel Meredith’s retirement in March.

Paul will be responsible for managing the specialist bank’s team of 23 property development directors and managers. 

He will work closely with Paul Turton, director of business development and marketing in property development, and report to Adam.

“UTB’s successful property development team have established a reputation for professionalism, dependability and a deep understanding of the housebuilding industry,” said Paul.

“I’m looking forward to getting to know the other members of the team and ensuring we continue to build on their success of 2020, both this year and beyond.” 

Adam added: “Paul joins us at a very exciting time for the bank’s property development team and I’m sure his experience will enable us to maintain our growth and deliver our plans for the future. 

“We’ve expanded our coverage across England and Wales and are involved in several initiatives to help SME housebuilders access the funds they need, including the recently launched £250m Housing Accelerator Fund with Homes England.

“There will be more exciting news from UTB in the coming weeks.”

In March, the bank announced a collaborative relationship with proptech Aprao to help developers with their appraisals

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